Becoming a young Wall Street banker is like pledging the world’s most lucrative and soul-crushing fraternity. Every year, thousands of eager college graduates are hired by the world’s financial giants, where they are taught the secrets of making obscene amounts of money – as well as how to dress, talk, date, drink, and schmooze like real financiers.
This is more than an exposé of excess; it is the story of how the financial crisis changed a generation-and remade Wall Street from the bottom up.
Young Money is one of the best narrative non-fiction books I’ve read in a while. It is also one of the best on Wall Street culture that I’ve read. This is largely because it is more focused on the characters involved, rather than the minutiae of trading and banking operations. While those things are, of course, widely misunderstood outside of banking circles, by focusing on the younger generation, Roose has drawn a fascinating insider account of this oh-so-well-guarded world.